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Gautam Adani Net Worth, Biography & Wiki 2017
Gautam Shantilal Adani was born on the 24th June 1962, in Ahmedabad, Gujarat, India and is a businessman, widely known as a founder and the chairman of the multinational conglomerate Adani Group. Adani has been active in the business of coal mining and gas distribution since 1988.
How much is the net worth of Gautam Adani? It has been estimated by authoritative sources that the overall size of his wealth is as much as $8.8 billion, as of the data presented in the middle of 2017. Adani Group is the main source of Adani’s fortune.
Gautam Adani Net Worth $8.8 Billion
To begin with, the boy with his seven siblings, was raised in Ahmedabad by his parents Shanta and Shantilal Adani. He was educated at the Sheth Chimanlal Nagindas Vidyalaya school, then entered Gujarat University to study commerce, yet he dropped out.
Currently, the billionaire Gautam Adani owns the largest brand of oil in India. The company was founded in 1988, with Gautam the founder and current president. He said he created his Group with a vision of Nation Building, that is to say by developing assets that he believes are important economic issues for the country. The Adani Group has grown rapidly by diversifying into import – export – it opened its own port in Mundra, to better control its trading operations. Construction began in 1995 and in 1998 it became one of the major sources of foreign exchange for India.
The following year, the company embarked on financial and energy speculation with coal trading, and soon created a joint venture (Adani Willmar) in the field of petroleum products trading in 2000. A second phase began for the group with the creation of large infrastructures. The company created a portfolio of ports, power stations, mines and a fleet of ships and railway lines in and out of India. In 2006, the company became the largest importer of coal in India – 11 million tons. Adani sought to be less dependent on the coal market, so he started to buy and control coal mines. Thus, he bought the Australian group Linc Energy, in order to supply the group’s coal-fired power stations. In 2008, he bought the Bunyu mine in Indonesia , with 180 million tons of coal reserves, and the following year, Adani Group became an energy company, producing 330 MW of thermal energy. In 2011, the group also decided to buy the exploitation rights of a large part of the Galilee coal basin in Australia. To prepare for the import of Australian coal, he ordered a large-capacity coal terminal at Mundra (the largest in the world) and in the same year he bought the Australian port of Abbot Point. This project is yet to come to fruition.
In 2012, the Group began a 3rd phase of development as integration infrastructure, renewing its logo and developing a new identity. The company focuses on three areas: resources, logistics and energy. Subsequently, under the direction of Gautam Adani, the Adani Group became a multinational conglomerate active in the production of electricity – especially through coal – and port terminals, logistics and agribusiness. It is India’s largest developer and port operator. The Group is the major source of Gautam Adani’s net worth.
Finally, in the personal life of Gautam, he is married to Priti and they have two children.